Raymond James Financial Inc. purchased a new stake in Adeia Inc. (NASDAQ:ADEA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 176,665 shares of the company's stock, valued at approximately $2,470,000. Raymond James Financial Inc. owned approximately 0.16% of Adeia as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Intech Investment Management LLC raised its holdings in Adeia by 250.9% during the 4th quarter. Intech Investment Management LLC now owns 450,303 shares of the company's stock worth $6,295,000 after buying an additional 321,970 shares during the period. Norges Bank purchased a new position in shares of Adeia in the fourth quarter worth approximately $3,288,000. Vanguard Group Inc. raised its holdings in shares of Adeia by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 14,423,573 shares of the company's stock valued at $201,642,000 after acquiring an additional 143,297 shares during the period. Boston Partners lifted its position in shares of Adeia by 5.3% in the 4th quarter. Boston Partners now owns 2,563,814 shares of the company's stock valued at $35,548,000 after acquiring an additional 129,922 shares in the last quarter. Finally, Barclays PLC boosted its stake in Adeia by 51.9% in the 3rd quarter. Barclays PLC now owns 228,967 shares of the company's stock worth $2,728,000 after purchasing an additional 78,276 shares during the period. Institutional investors and hedge funds own 97.36% of the company's stock.
Wall Street Analyst Weigh In
ADEA has been the subject of a number of research analyst reports. Rosenblatt Securities restated a "buy" rating and issued a $20.00 target price on shares of Adeia in a report on Friday, February 28th. BWS Financial reissued a "buy" rating and issued a $18.00 price objective on shares of Adeia in a research note on Tuesday, April 15th. Finally, Maxim Group lifted their target price on Adeia from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th.
Check Out Our Latest Report on ADEA
Adeia Trading Up 1.1 %
Adeia stock opened at $12.50 on Wednesday. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.15. Adeia Inc. has a 12 month low of $9.68 and a 12 month high of $17.46. The company's fifty day simple moving average is $13.44 and its 200-day simple moving average is $13.17. The stock has a market cap of $1.36 billion, a P/E ratio of 21.93 and a beta of 1.47.
Adeia (NASDAQ:ADEA - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $119.17 million for the quarter, compared to analyst estimates of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same period in the prior year, the firm posted $0.27 EPS. As a group, sell-side analysts forecast that Adeia Inc. will post 1.09 EPS for the current fiscal year.
Adeia Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Monday, March 10th. Adeia's dividend payout ratio (DPR) is presently 35.09%.
About Adeia
(
Free Report)
Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.
Further Reading
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